The Financial Accounting Standards Board (FASB was proposed by the)

Norwalk, CT, August 30, 2012—The Financial Accounting Standards Board (FASB) today released the proposed 2013 U.S. GAAP Financial Reporting Taxonomy for public review and comment. The deadline to submit written comments is October 29, 2012. The taxonomy is a list of computer-readable financial reporting labels coded in XBRL, an open-source computer language that allows companies to tag precisely the thousands of pieces of financial data included in typical long-form financial statements and related footnote disclosures. The tags allow users of financial statements to electronically search for, assemble, and process data so that the data can be readily accessed and analyzed by investors, analysts, journalists, and regulators. The proposed 2013 U.S. GAAP Financial Reporting Taxonomy contains updates for accounting standards and other recommended improvements to the official taxonomy, which is used by public issuers registered with the U.S. Securities and Exchange Commission (SEC). The 60-day comment period is intended to solicit feedback on these updates from users of the taxonomy and to provide SEC filers, service providers, software vendors, and other interested parties with the opportunity to become familiar with and suggest revisions to the taxonomy, including incorporating new elements for current filings. The 2013 U.S. GAAP Financial Reporting Taxonomy is expected to be finalized and published in early 2013.

The proposed 2013 U.S. GAAP taxonomy and instructions on how to submit comments are available at the FASB’s XBRL page.

Questions about using this taxonomy for creating and submitting eXtensible Business Reporting Language (XBRL) tagged interactive data files in compliance with SEC rules should be directed to the SEC. SEC contact details and guidance are available at the SEC’s portal on XBRL.

About the Financial Accounting Standards Board

Since 1973, the Financial Accounting Standards Board has been the designated organization in the private sector for establishing standards of financial accounting and reporting. Those standards govern the preparation of financial reports and are officially recognized as authoritative by the Securities and Exchange Commission and the American Institute of Certified Public Accountants. Such standards are essential to the efficient functioning of the economy because investors, creditors, auditors, and others rely on credible, transparent, and comparable financial information. For more information about the FASB, visit our website at www.fasb.org.

About the Financial Accounting Foundation

Norwalk, CT, August 7, 2008—The Financial Accounting Standards Board (FASB) today issued a revised Exposure Draft (ED) of a proposed Statement of Financial Accounting Standards, Earnings per Share—an amendment of FASB Statement No. 128. The proposed Statement seeks to improve financial reporting by clarifying and simplifying the method of calculating earnings per share (EPS), while promoting the international convergence of accounting standards by eliminating major differences that currently exist between FASB Statement No. 128, Earnings per Share, and International Accounting Standard (IAS) 33, Earnings per Share.

The ED seeks feedback from constituents on whether the proposed statement achieves its goal of amending Statement 128 in a way that simplifies and converges the computation of the denominator of EPS with proposed amendments to IAS 33, issued separately by the International Accounting Standards Board (IASB). As proposed, the Statements are intended to improve the comparability of EPS because the denominator used to compute EPS under Statement 128 would be the same as the denominator used to compute EPS under IAS 33, with limited exceptions. Those limited exceptions relate to certain instruments for which the underlying accounting under U.S. generally accepted accounting principles (GAAP) and international financial reporting standards (IFRS) is different.

"In addition to improving financial reporting, the proposed amendment to Statement 128 is an important step in the international convergence process," states FASB practice fellow Sheri Wyatt. "By eliminating the differences between Statement 128 and IAS 33, the proposed amendment will enhance the comparability of EPS reported under U.S. GAAP and IFRS."

As proposed, an entity would be required to apply the requirements of this proposed Statement as of the beginning of a fiscal year, and interim periods within those fiscal years, generally through retrospective application to prior periods. Earlier application is prohibited. The proposed ED does not include a specific effective date for a final Statement. The FASB will determine the effective date when it approves the final amendments to Statement 128.

The proposed ED invites individuals and organizations to submit comments on the proposed guidance. Responses must be received in writing by December 5, 2008. Interested parties should submit their comments by email to , File Reference No. 1240-001. Those without email may send their comments to the "Technical Director—File Reference No 1240-001" to the Financial Accounting Standards Board, 401 Merritt 7, PO Box 5116, Norwalk, CT, 06856-5116. Responses should not be sent by fax. All comments received by the FASB are considered public information. Those comments will be posted to the FASB website and included as part of the project record with other project materials.

About the Financial Accounting Standards Board

Since 1973, the Financial Accounting Standards Board has been the designated organization in the private sector for establishing standards of financial accounting and reporting. Those standards govern the preparation of financial reports and are officially recognized as authoritative by the Securities and Exchange Commission and the American Institute of Certified Public Accountants. Such standards are essential to the efficient functioning of the economy because investors, creditors, auditors, and others rely on credible, transparent, and comparable financial information. For more information about the FASB, visit our website at www.fasb.org.

Norwalk, CT, May 21, 2001—The Financial Accounting Standards Board (FASB) has issued for comment a proposed Technical Bulletin, Effective Date for Certain Financial Institutions of Certain Provisions of Statement 140 Related to the Isolation of Transferred Financial Assets. The document is available on the FASB website at www.fasb.org.

This Technical Bulletin was prepared based on the staff's answers (issued on April 19, 2001) to questions about the isolation of assets transferred by financial institutions. The staff and Board agreed that additional transition time was appropriate for constituents because clarification was made after the effective date of Statement 140. This proposed Technical Bulletin defers the effective date for certain provisions of Statement 140 under specified circumstances.

The FASB is requesting that comments on the proposed Technical Bulletin be received by June 1, 2001.

About the Financial Accounting Standards Board

Since 1973, the Financial Accounting Standards Board has been the designated organization in the private sector for establishing standards of financial accounting and reporting. Those standards govern the preparation of financial reports and are officially recognized as authoritative by the Securities and Exchange Commission and the American Institute of Certified Public Accountants. Such standards are essential to the efficient functioning of the economy because investors, creditors, auditors, and others rely heavily on credible, transparent, and comparable financial information. For more information about the FASB, visit our website at www.fasb.org.

Norwalk, CT, May 7, 2013—The Private Company Council (PCC) today voted to move forward with proposed alternatives within U.S. Generally Accepted Accounting Principles (GAAP) designed to improve financial reporting for private companies. The PCC’s approved exposure of the proposals is the first step in a process toward endorsement by the Financial Accounting Standards Board (FASB).

In its third public meeting, the PCC made tentative decisions in the following areas, including:

• Relief from separately recognizing certain intangible assets acquired in a business combination
• Allowing for the amortization of goodwill and a simplified goodwill impairment model
• Allowing two simpler approaches to accounting for certain types of interest rate swaps when a private company intends to economically convert the interest rate on its debt.

About the PCC The PCC was established by the Financial Accounting Foundation (FAF) Board of Trustees to work with the FASB to determine whether and when to modify U.S. GAAP for private companies. For more information on the PCC, please visit the FAF website or read the Establishment of the Private Company Council Final Report. About the Financial Accounting Foundation The FAF is responsible for the oversight, administration, and finances of both the Financial Accounting Standards Board and its counterpart for state and local governments, the Governmental Accounting Standards Board. The FAF also is responsible for selecting the members of both Boards and their respective Advisory Councils.

About the Financial Accounting Standards Board

Since 1973, the Financial Accounting Standards Board has been the designated organization in the private sector for establishing standards of financial accounting and reporting. Those standards govern the preparation of financial reports and are officially recognized as authoritative by the Securities and Exchange Commission and the American Institute of Certified Public Accountants. Such standards are essential to the efficient functioning of the economy because investors, creditors, auditors, and others rely on credible, transparent, and comparable financial information. For more information about the FASB, visit our website at www.fasb.org.